NFC- and Restructuring plan: Difference between pages
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''Law - UK - insolvency''. | |||
The restructuring plan is a UK insolvency procedure introduced by the UK's Corporate Insolvency and Governance Act 2020. | |||
The restructuring plan is designed to be a more flexible means of implementing a restructuring for companies facing financial distress. | |||
:<span style="color:#4B0082">'''''Potentially very useful reform'''''</span> | |||
:"The procedure is closely based on the scheme of arrangement, but with some important distinctions. | |||
:Most notable is the inclusion of a cross-class, cram-down mechanism. | |||
:This will allow the court to sanction a plan even if the support of a class has not been obtained, as long as certain conditions are met. | |||
:The restructuring plan has the potential to be a very useful addition to the toolkit, and the first such plan has already been proposed, although there are a number of complex issues that will need to be worked through and tested in practice." | |||
:''The Treasurer magazine, October 2020, p40 - Slaughter and May.'' | |||
== See also == | == See also == | ||
* [[ | * [[Balance sheet insolvent]] | ||
* [[ | * [[Cash flow insolvent]] | ||
* [[Chapter 11]] | |||
* [[Company voluntary arrangement]] | |||
* [[Corporate Insolvency and Governance Act]] | |||
* [[Cost of financial distress]] | |||
* [[Creditors]] | |||
* [[Individual Voluntary Arrangement]] | |||
* [[Insolvency]] | |||
* [[Insolvency practitioner]] | |||
* [[Insolvency Service]] | |||
* [[London Approach]] | |||
* [[Moratorium]] | |||
* [[Restructuring]] | |||
* [[Scheme of arrangement]] | |||
* [[Solvency]] | |||
* [[Statement of affairs]] | |||
* [[Statutory demand]] | |||
* [[Voluntary liquidation]] | |||
* [[Winding up petition]] | |||
* [[Workout]] | |||
* [[Wrongful trading]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] |
Revision as of 22:44, 23 June 2021
Law - UK - insolvency.
The restructuring plan is a UK insolvency procedure introduced by the UK's Corporate Insolvency and Governance Act 2020.
The restructuring plan is designed to be a more flexible means of implementing a restructuring for companies facing financial distress.
- Potentially very useful reform
- "The procedure is closely based on the scheme of arrangement, but with some important distinctions.
- Most notable is the inclusion of a cross-class, cram-down mechanism.
- This will allow the court to sanction a plan even if the support of a class has not been obtained, as long as certain conditions are met.
- The restructuring plan has the potential to be a very useful addition to the toolkit, and the first such plan has already been proposed, although there are a number of complex issues that will need to be worked through and tested in practice."
- The Treasurer magazine, October 2020, p40 - Slaughter and May.
See also
- Balance sheet insolvent
- Cash flow insolvent
- Chapter 11
- Company voluntary arrangement
- Corporate Insolvency and Governance Act
- Cost of financial distress
- Creditors
- Individual Voluntary Arrangement
- Insolvency
- Insolvency practitioner
- Insolvency Service
- London Approach
- Moratorium
- Restructuring
- Scheme of arrangement
- Solvency
- Statement of affairs
- Statutory demand
- Voluntary liquidation
- Winding up petition
- Workout
- Wrongful trading